Hero Splendor, Pleasure+ to get more expensive as prices set to go up in April
Hero MotoCorp will be increasing ex-showroom prices across its two-wheeler range from April 1, 2023, the company said in a regulatory filing. The price hike will be around two per cent and has been made largely due to the cost increases in the wake of compliance with OBD 2 and RDE regulations. The new emission norms will be applicable from April onwards for all vehicles.
Hero MotoCorp said that the exact quantum of the price hike will vary depending on the model and the market. Meanwhile, the two-wheeler giant promises to provide “innovative" financing solutions to customers to cushion the impact of the price hike.
Also Read : Hero MotoCorp sells 3.94 lakh motorcycles and scooters in February, grows by 10%
With the mass-market two-wheeler sector showing a slow recovery in the post-pandemic era, manufacturers are expecting a resurgence in volumes this year. Hero MotoCorp says it has been witnessing a strong upswing in demand thanks to the government schemes in the social sector and healthy agricultural outputs. A healthy monsoon will further drive up growth and demand in the rural sector, which will lead to the upcoming festive season in the second half of the calendar year.
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With respect to models, Hero recently introduced the Xoom 110 scooter bringing new tech and innovation to the 110 cc scooter segment. The Hero Splendor XTEC was also launched earlier this year. All of the company's models will be transitioning to the latest emission regulations from April onwards. Other manufacturers have hiked prices by 2-3 per cent across their respective, depending on the model in the wake of the latest emission norms.